Articles
Canada’s SHARE calls on investors to rethink real estate investments after evictions in Black neighbourhoods
Aug 13th, 2021
Canada’s Shareholder Association for Research & Education (SHARE) has urged institutional investors to look at how their real estate portfolios might be harming minority communities following allegations that a pension fund’s investment partner targeted majority-Black neighbourhoods for mass evictions.
Earlier this year, Canadian federal pension plan the Public Sector Pension Investment Board (PSP) entered into a $700m joint venture with US real estate investor Pretium Partners - despite concerns over Pretium’s eviction and rental pricing policies.
Now, Pretium is one of the targets of a US congressional investigation for allegedly filing evictions “at dramatically higher rates in majority-Black counties than in majority-white counties”.
Preti…
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